Aave Tumbles 8% Amid WLFI Token Deal Rumors
Aave's price took an 8% hit on Saturday after conflicting reports about its deal with World Liberty Financial (WLFI) token allocation.
The decline occurred after claims that a 7% WLFI token deal was 'fake news.'
An October 2024 proposal outlined Aave DAO receiving 7% of WLFI governance tokens plus 20% of protocol revenues. Founder Stani Kulechov called it 'the art of the deal' and maintained the proposal's validity.
The token fell from $385 to $339 before recovering to $352 amid the confusion.